A profit-maximizing firm will continue to hire labour until the
A) wage rate equals the marginal product of the last worker hired.
B) value of marginal product of the last worker hired is maximized.
C) value of marginal product of the last worker hired is negative.
D) wage rate equals the value of marginal product of the last worker hired.
E) value of marginal product of the last worker hired equals zero.
Correct Answer:
Verified
Q35: Mr.Smith's firm competes in a perfectly competitive
Q36: The demand for labour is a derived
Q37: If the price of the firm's output
Q38: When the price of a firm's output
Q39: A firm's demand curve for labour shifts
Q41: If the supply of labour decreases,which of
Q42: A labour union is
A)an illegal conspiracy of
Q43: Use the table below to answer the
Q44: The reservation wage rate is the wage
Q45: The labour supply curve may eventually become
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents